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South Bend Redevelopment Commission <br />Special Me ting - December 26, 1985 <br />2. NEW BUSINESS (Cont.) <br />a. UOnti.nuect .. . <br />CoDraission authorized the change in <br />participants in Mill Race, an Indiana limited <br />partnership, to delete Eugene Conard and <br />Richard Baransick as general and limited <br />partners, and to accept the addition of <br />Richard R. Blank as general and limited <br />partner as developer of Parcels E3 -3 and E3 -4 <br />in the South Bend Central Development Area <br />with the stipulation and requirement that all <br />other authorizations and requirements <br />connected with the redevelopment of parcels <br />E3-3 and E3 -4 be as authorized by the <br />Commission on December 16, 1985, and to <br />authorize the Secretary and Assistant <br />Secretary to execute a contract for sale of <br />land with respect to Parcels E3 -3 and E3 -4 in <br />the absence of the President and Vice <br />President should that be necessary. <br />Mr. Hunt noted that Mr. Blank's experience has <br />been as both a contractor and as part of a <br />partnership in a range of projects such as <br />Woolland Estates Apartments (140 units) in <br />Michigan City, Tall Timbers Apartments (100 <br />units) in Michigan City, Hammond Apartments <br />(15 units) in Hammond, and Woodland East <br />Apartments (48 units) in Michigan City. He <br />has had a whole range of experience in <br />mul i- family housing. In addition, Mr. Blank <br />is partner in Tonn & Blank, Inc., which is a <br />lar e contracting, engineering and development <br />fi out of Michigan City, Indiana. <br />Mr. Hunt commented that the reason for the <br />pressure as far as the time schedule is that <br />as of January 1, 1986 certain requirements and <br />regulations governing multi - family revenue <br />bonds will be in effect and for all practical <br />purooses would make this type of project not <br />fea ible_ <br />Mr. Hunt further commented, if this project <br />can be moved along, there will be three large <br />scale projects moving on the East Bank that <br />inv lve over 420 housing units. <br />-3- <br />COMMISSION AUTHORIZED THE <br />CHANGE IN PARTICIPANTS IN <br />MILL RACE, AN INDIANA LIMIT- <br />ED PARTNERSHIP, TO DELETE <br />EUGENE CONARD AND RICHARD <br />BARANSICK AS GENERAL AND <br />LIMITED PARTNERS, AND TO <br />ACCEPT THE ADDITION OF <br />RICHARD R. BLANK AS GENERAL <br />AND LIMITED PARTNER AS <br />DEVELOPER OF PARCELS E3 -3 <br />AND E3 -4 IN THE SOUTH BEND <br />CENTRAL DEVELOPMENT AREA <br />WITH THE STIPULATION AND <br />REQUIREMENT THAT ALL OTHER <br />AUTHORIZATIONS AND REQUIRE- <br />MENTS CONNECTED WITH THE <br />REDEVELOPMENT OF PARCELS <br />E3 -3 AND E3 -4 BE AS AUTHOR- <br />IZED BY THE COMMISSION ON <br />DECEMBER 16, 1985, AND TO <br />AUTHORIZE THE SECRETARY AND <br />ASSISTANT SECRETARY TO <br />EXECUTE A CONTRACT FOR SALE <br />OF LAND WITH RESPECT TO <br />PARCELS E3 -3 AND E3 -4 IN THE <br />ABSENCE OF THE PRESIDENT AND <br />VICE PRESIDENT SHOULD THAT <br />BE NECESSARY <br />